Russia delivers 180,000 tonnes to Egypt in Wheat and then shuts off Exports. Wheat 60 higher locked limit for the first half hour of trade, but we are coming off. could this be buy the rumor, sell the fact?. I would be patient. Is there another 2dollar move higher in the wheat? or was this the exhaustion move?
I would sit tight through Lunch. It feels kind of weird here. I like being long beans out of all three choices, corn, wheat, beans. If Wheat is able to settle limit bid, then I think I may change my tune, but I will be patient.
Good Trading
